Visa has announced a bank partnership in Kenya, mVisa, that will enable customers to send money to each other domestically without paying transaction fees.
It held an exclusive dinner at Capital Club, Nairobi, on July 13 to launch the deal.
The partnership, offering free person-to-person (P2P) transactions, currently includes nine Kenyan banks that have either enabled mVisa on their mobile banking applications or have acquired merchants to facilitate mVisa transactions.
These are Barclays Bank, Cooperative Bank, Ecobank, Family Bank, KCB Bank, National Bank of Kenya, NIC Bank, Prime Bank and Standard Chartered Bank.
Other banks, either live or about to go live with mVisa, include Diamond Trust Bank and Stanbic.